down heavily on countries over import tariffs during the G7 summit in Canada,
the US President threatened to stop trading with those countries that have
imposed import tariff and been unfair to US
and he said at a press conference before leaving the two-day summit in
Quebec: "We're like the piggy bank that everybody is robbing,"
isn't just G7. I mean, we have India, where some of the tariffs are 100 per
cent. A hundred per cent. And we charge nothing. We can't do that," Trump,
who left the G7 summit on a sour note, said. He further threatened to stop
doing trade with countries "who are being unfair" to the US.
like the piggy bank that everybody is robbing," the US President said at a
press conference before exiting from the two-day summit in Quebec.
do that. We are talking to many countries, we are talking to all countries. And
it's going to stop. Or we'll stop trading with them. And that's a very
profitable answer..." he added.
this year, Trump had criticised India over import duty on the iconic
Harley-Davidson motorcycles and had threatened to increase the import tariff on
"thousands and thousands" of Indian motorcycles to the US.
had said that the decision of the Indian government to reduce the tariff from
75 per cent to 50 per cent was not enough and asked that it should be
reciprocal, as the US imposes "zero tax" on the import of
US president had also referred to a conversation he had with Prime Minister
Narendra Modi in this regard and called him a "beautiful man".
a great gentleman called me from India and he said, we have just reduced the
tariff on motorcycles, reduced it down to 50 per cent from 75, and even 100 per
cent," he said.
also pitched for a "reciprocal tax" on countries that he said
"abuse" their trade relationships with the US.
I say we should have reciprocal taxes for a case like that. Iím not blaming
India. I think it's great that they can get away with it. I don t know why
people allowed them to get away with it. But thereís an example thatís very
unfair. And I think we should have a reciprocal tax," the US president
Trump has floated the idea of a reciprocal tax in the past, promising to slap
it on countries, including allies, that take advantage of the United States and
its huge market.
called fair trade. It's called free trade. Because ultimately, what's going to
happen -- either we'll collect the same that they're collecting, or, probably,
what happens is they'll end up not charging a tax and we won't have a tax. And
that becomes free trade," Mr Trump said.